Products August 21, 2003

MetLife Launches Online Retirement Meter

August 21, 2003 (PLANSPONSOR.com) - Plan sponsors have a new source to direct participants to for retirement income projections.

Reported by

Eric Hazard

MetLife Retirement & Savings has released MetLife’s Income Meter, a new income planning tool to provide individuals with calculations on how much income their savings will generate and how long that income will last, according to a news release. Features of the Income Meter include:

questions on saving and retirement date to guide user to the appropriate planning tool.
for those still saving for retirement, a projection on how much they should save to provide their desired level of income.
for individuals getting ready to retire, information on the amount of income they can expect from their savings and how long it will last.
actuarial data to illustrate the likelihood of the user outliving their retirement savings.

The online Income Meter is designed to jump-start the planning process for people who have done little or no in-depth retirement planning. The calculator can be accessed at http://myretirement.metlife.com .